HomeMy WebLinkAbout900405 SIERRA ~OM~8 CON~TRUCTION, INC. A W~OMIN~ CoRPORAT~'0~:~ .0F
344 T~MONTON, '~ 84337, {hers{n coflec6ve;~ oa~led ~O~TGA~ORa)~'Xo sec6fe
pa~ent of six ~0~;8~ DOLG~S ($6, oeo. oo;, with {ntere~ th~eon, as provided
and evidenbed by a promlsso~ note of even date herewith {the ultimate maturiw dat[~ of
which is the 15TH D/kY OF AUGUST, 20041 and all renewals, modification and
thereof, do hereby m(~gaga un~ RI~ ~. BERGES ~ B~ J. BERG~B of P.O.
BOX 654, DRISGa, ID 83~33 (herein called "MORTGAGEE"), the following desorlbad ~eal
prope~y, situate in the County of Lincoln, State'of Wyoming, hore~ releasing and wavln~j all
rights under and by vi.~e of the homestead exemption laws of the State of Wyoming, to-wit:
LOC 102 of Scar Valley Rahab Plat ?, Lincoln County, Wyoming am
de=cribed cn the offi=i&l plat =hereof.
MORTGAGOR ~grees to pay the indebtedness hereby secured; to pay ell ta):es,
essessment~ end charges levied against the Property, as th~ ~ame become due and peyli'31e;
to secure, maintain ~ ~c; furnish MORTGAGEE evidence thereof, insurance with ap insurance
carrier or carriers accaptab{a to MORTGAGEE. covering the insurance improvements on the
Property against loss by fire and earthquakes, with extended coverage, in an omount not less
than the unpaid balanoe of the debt hereby secured, or the insurable value (replacement cost)
of such improvements whichever is lesfl, which insurance shall contain an appropriate
payable provision pro~!ecting MORTGAGOR and MORTGAGEE as their respective interests may
appear from time to tlme. In the event MORTGAGOR fails to pay such taxes or aesassments,
or falls to keep and maintain such ~nsurance as herein provided, MORTGAGEE mav pay such
taxes and assessments and may seoure and pay for such insurance, and all sums so paid shall
be added to and cons;dared a pert of the Indebtedne~e hereby eeourad and shall draw interest
at the same rate.
In case daf~ul; ,,~'hall be made In the p~yment of the above sums hereby secured, ur in
the payment of the Ipterest thereon, or any part of such principal or Interest, when the
shall become due; or in.case of de~ault shell be made ir) any of the covenants and agreernent~
thereof, or in the ewn~ MORTGAGOR sell~ or oonveys the Property, or any part thereat, or
any interest therein, u=~ithout the prior written consent of the MORTGAGEE first had and
obtained, then the w'~ele Indebtedne~ hereby s~ourad, with Interest thereon, cheil become
due end payable, ettka.option of MORTG. AGE£, and MORTGAGEE'S legal repreaentatlve~ end
assigns, may proceed by advertisement ~nd eels/or lie otherwise authorized by governing laW,
to foreclose on end sail the Property, and out of th,~ proc~ed~ of ~uch ~ala, MORTGAGEE .~;hall
pay all sums due hereunder, together with ail costs of sale including reasonable attorney's
fees. If the proceeds cf the foreclosure sale are insufficient to pay the indebtedhess hereby
secured and foreclosure costs, MORTGAGEE shall be entitled to a deficiency judgment.
In tt~a even~ of a~y default whereby the right of foreclosure occurs; hereunder,
MORTGAGEE shall at once become entitled to exolusjve possession, use and enjoyment of the
Property, ~nd to all r,mts, issues and proflte from the aocruing of any such rights and during
tho pendanoy of the i~0reolosure prooeedlngs, and the period of redemption, if any there be,
MORTGAGOF vzarrants title [o the Properly ar. to parties claiming, by through or urldar
the MORTGAGOR
,l.
Witness our hands this 1st day of March, 2004.
SIERRA HOMES CONSTRUCTION. INC.
The foregoing instrument wa~ acknowtedged bnfore ms by Jay Stocking, President of Sierra
Homes Construction, Inc. thi',;
Witness my hand and officia; .seal.
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TOTAL P.05